NASCUS Attends NCUA Board Member Michael Fryzel’s Final Board Meeting

July 31, 2014 – Today’s NCUA Board meeting was the last for Michael Fryzel, who was nominated to the NCUA Board by President George W. Bush on Nov. 30, 2007.

After U.S. Senate confirmation, Fryzel took his office as NCUA chairman on July 29, 2008. He served in the position until Aug. 24, 2009. Fryzel’s term officially expired Aug. 2, 2013.

“NASCUS has enjoyed working with Mr. Fryzel,” said NASCUS President and CEO Mary Martha Fortney. “He has been open to dialoguing with regulators from the beginning of his term through to the end, including during some very tumultuous times, and has made a positive impact on the credit union system. He will be missed.”

Mark McWatters, the assistant dean for graduate programs and an adjunct professor at the Southern Methodist University Dedman School of Law, will replace Fryzel. McWatters is expected to take office in August. McWatters was a member of the Troubled Asset Relief Program (TARP) Congressional Oversight Panel in Washington from 2009-2011, and former counsel to Rep. Jeb Hensarling (R-Texas), now chairman of the House Financial Services Committee. McWatters was nominated to the Board Dec. 17, 2013, by President Barack Obama.